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what happens with the money you’ve paid?
Posted on 3/9/10 at 12:26 am
Posted on 3/9/10 at 12:26 am
I m in my late twenties and looking for life insurance outside of my job. i want to know if you sign up for term life insurance and the term is up what happens with the money you’ve paid? or is it just better to sign up for whole life insurance?
5
Posted on 3/9/10 at 1:31 am to Alan Chavez
quote:
i want to know if you sign up for term life insurance and the term is up what happens with the money you’ve paid?
The insurance company applies it to their net profit margin.
Posted on 3/9/10 at 6:24 am to LSURussian
quote:
The insurance company applies it to their net profit margin.
This. It is one reason why I plan not to die.
Posted on 3/9/10 at 8:19 am to foshizzle
You could really screw them by buying a monster plan and killing yourself the day after your plan turns 2 years old.
Posted on 3/9/10 at 8:26 am to JB Bama
quote:
killing yourself the day after your plan turns 2 years old.
I've never understood why the suicide flip at two.
Posted on 3/9/10 at 8:28 am to Alan Chavez
quote:
and the term is up what happens with the money you’ve paid?
Same thing that happens with the money you've paid for a bottle of water after you drank the water.
Posted on 3/9/10 at 9:49 am to foshizzle
quote:
It is one reason why I plan not to die.
Please send a copy of your "plan" to lsuruskie@yahoo.com so I can copy it.
TIA.....
Posted on 3/9/10 at 9:51 am to Alan Chavez
quote:
what happens with the money you’ve paid?
Same thing that happens to the money you pay for homeowners insurance, and your house doesn't get destroyed, or what happens to your auto insurance, and you don't get into a wreck.
It's amazing how few people understand the true concept of insurance.
Posted on 3/11/10 at 8:57 am to Alan Chavez
Again. That's why its so inexpensive. It serves its purpose if you die, thats it. Depending on your situation, it may or may not be the best option. If you are concerned about "wasting" your money, with whole life, you build cash value and the death benefit, meaning, at some point in life, you will get your premiums back plus some, whether its through the death benefit, or you can access is through the cash value.
Again, before you do anything, sit down with an agent who can answer your questions specific to YOUR scenario. There isn't a "cookie cutter" answer to anyones situation.
Again, before you do anything, sit down with an agent who can answer your questions specific to YOUR scenario. There isn't a "cookie cutter" answer to anyones situation.
Posted on 3/11/10 at 8:58 am to Alan Chavez
quote:no
is it just better to sign up for whole life insurance?
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